QLENX vs. CLOB
QLENX (AQR Long-Short Equity Fund Class N) and CLOB (VanEck AA-BB CLO ETF) are both funds - QLENX is a Long-Short fund actively managed by AQR Funds, while CLOB is a CLO fund actively managed by VanEck. Both are actively managed. Over the past year, QLENX returned 15.29% vs 6.30% for CLOB. At a 0.15 correlation, their price movements are largely independent. QLENX charges 1.57%/yr vs 0.45%/yr for CLOB.
Performance
QLENX vs. CLOB - Performance Comparison
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Returns By Period
In the year-to-date period, QLENX achieves a -0.83% return, which is significantly lower than CLOB's 1.95% return.
QLENX
- 1D
- -0.29%
- 1M
- 0.94%
- YTD
- -0.83%
- 6M
- -1.31%
- 1Y
- 15.29%
- 3Y*
- 25.60%
- 5Y*
- 23.23%
- 10Y*
- 11.72%
CLOB
- 1D
- -0.01%
- 1M
- 0.19%
- YTD
- 1.95%
- 6M
- 1.84%
- 1Y
- 6.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QLENX vs. CLOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QLENX AQR Long-Short Equity Fund Class N | -0.83% | 34.07% | 5.50% |
CLOB VanEck AA-BB CLO ETF | 1.95% | 6.94% | 2.77% |
Correlation
The correlation between QLENX and CLOB is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.15 |
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Return for Risk
QLENX vs. CLOB — Risk / Return Rank
QLENX
CLOB
QLENX vs. CLOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AQR Long-Short Equity Fund Class N (QLENX) and VanEck AA-BB CLO ETF (CLOB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QLENX | CLOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.46 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.24 | -0.79 |
| Martin ratioReturn relative to average drawdown | 7.54 | 13.91 | -6.37 |
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Drawdowns
QLENX vs. CLOB - Drawdown Comparison
The maximum QLENX drawdown since its inception was -38.50%, which is greater than CLOB's maximum drawdown of -5.54%. Use the drawdown chart below to compare losses from any high point for QLENX and CLOB.
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Drawdown Indicators
| QLENX | CLOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.50% | -5.54% | -32.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.09% | -1.96% | -4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.50% | — | — |
Current DrawdownCurrent decline from peak | -1.45% | -0.19% | -1.26% |
Average DrawdownAverage peak-to-trough decline | -7.46% | -0.30% | -7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.45% | +1.52% |
Volatility
QLENX vs. CLOB - Volatility Comparison
AQR Long-Short Equity Fund Class N (QLENX) has a higher volatility of 2.85% compared to VanEck AA-BB CLO ETF (CLOB) at 0.44%. This indicates that QLENX's price experiences larger fluctuations and is considered to be riskier than CLOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QLENX | CLOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 0.44% | +2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 5.78% | 2.44% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.40% | 2.95% | +4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.01% | 5.46% | +4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.59% | 5.46% | +5.13% |
QLENX vs. CLOB - Expense Ratio Comparison
QLENX has a 1.57% expense ratio, which is higher than CLOB's 0.45% expense ratio.
Dividends
QLENX vs. CLOB - Dividend Comparison
QLENX's dividend yield for the trailing twelve months is around 1.65%, less than CLOB's 6.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOB VanEck AA-BB CLO ETF | 6.42% | 6.61% | 1.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QLENX AQR Long-Short Equity Fund Class N | 1.65% | 1.64% | 7.13% | 21.21% | 14.09% | 0.00% | 1.59% | 0.00% | 6.09% | 8.91% | 2.87% | 4.91% |
Frequently Asked Questions
QLENX and CLOB have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLENX has higher volatility (2.85%) compared to CLOB (0.44%). In terms of maximum drawdown, QLENX dropped -38.50% vs CLOB's -5.54%.
CLOB currently has the higher Sharpe Ratio (2.15 vs 2.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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